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On 14 July 2025, Kenvue Inc. (NYSE: KVUE) filed a Form 8-K disclosing three material items.

Item 2.02 鈥� Preliminary Q2 results: A press release (Exhibit 99.1) announced select, unaudited second-quarter figures; no numbers appear in the filing. Full Q2 results and updated FY-25 guidance are scheduled for 7 Aug 2025.

Item 5.02 鈥� Leadership change: CEO Thibaut Mongon resigned from both the CEO post and the Board effective 14 Jul 2025, qualifying for standard severance and 鈥渞etirement鈥� equity treatment. The Board appointed independent director Kirk L. Perry as interim CEO. His offer letter (Exhibit 10.1) provides (i) $1.25 million annual salary, (ii) up to $1.5 million performance-based cash award payable when a permanent CEO is installed, (iii) $5 million in equity (50% stock options, 50% RSUs) vesting after one year, and (iv) up to $25,000 legal-fee reimbursement. Perry will not join the Severance Plan and will receive no additional Board fees.

Item 8.01 鈥� Strategic review: The Board formed a five-member Strategic Review Committee, chaired by Melanie L. Healey and advised by Centerview Partners and McKinsey & Co., to evaluate alternatives such as brand-portfolio optimization aimed at accelerating profitable growth and 鈥渦nlocking inherent value.鈥� No timeline or specific options were disclosed.

The filing includes standard forward-looking disclaimers and lists three exhibits: the offer letter, the press release, and the Inline XBRL cover page.

Investor takeaway: The sudden CEO departure injects uncertainty, yet the swift appointment of an experienced interim leader and initiation of a strategic review indicate proactive Board engagement. More clarity should emerge with Q2 earnings on 7 Aug 2025.

BlackRock Portfolio Management LLC filed Amendment No. 3 to Schedule 13G disclosing its beneficial ownership in iShares iBonds 2032 Term High Yield & Income ETF (CUSIP 46438G364). As of 30 June 2025, the firm reports:

• Shares held: 280,000
• Percent of outstanding class: 80.0%
• Sole voting power: 280,000
• Sole dispositive power: 280,000

The filing states the position is held in the ordinary course of business and not for the purpose of influencing control of the issuer. The large stake is attributed to specific 鈥淩eporting Business Units鈥� of BlackRock, Inc. and excludes other disaggregated units. A related person鈥�BlackRock Financial Management, Inc. 鈥� MTM 鈥� Consol鈥攁lso owns more than 5 % of the ETF鈥檚 outstanding shares.

Because BlackRock is both the ETF sponsor and an affiliated investment adviser, its 80 % ownership indicates tight alignment of interests but also a highly concentrated float. Investors should consider potential liquidity constraints until additional shares are issued and dispersed.

On 2 July 2025, Auburn National Bancorporation (AUBN) director David E. Housel filed a Form 4 reporting two DRIP/optional cash purchases of the company鈥檚 common stock.

• 38 shares acquired at $24.6912
• 17 shares acquired at $23.2233

Housel鈥檚 direct holdings rose from an estimated 8,476 to 8,531 shares, a 0.6% increase, at a total outlay of roughly $1,338. No derivative securities were involved, and no Rule 10b5-1 plan was indicated.

While insider buying is generally viewed positively, the transaction size鈥�55 shares versus AUBN鈥檚 ~3.6 million shares outstanding鈥攊s immaterial from a valuation or liquidity standpoint. The filing nevertheless provides a nominal signal of continued board-level confidence in the bank.

German American Bancorp, Inc. (GABC) filed a Form 4 reporting an insider equity grant. On 06/30/2025, Director Christina M. Ryan received 1,298 shares of restricted common stock at a price of $0 as part of the company鈥檚 non-employee director compensation plan. Following the award, Ryan beneficially owns 15,914.4331 shares. According to the filing, the restricted stock will vest on 07/01/2026. No derivative securities were reported, and the transaction was reported as a direct holding (ownership code 鈥淒鈥�). The filing was signed by attorney-in-fact Bradley C. Arnett on 07/02/2025.

German American Bancorp, Inc. (GABC) filed a Form 4 reporting an insider equity grant. On 06/30/2025, Director Christina M. Ryan received 1,298 shares of restricted common stock at a price of $0 as part of the company鈥檚 non-employee director compensation plan. Following the award, Ryan beneficially owns 15,914.4331 shares. According to the filing, the restricted stock will vest on 07/01/2026. No derivative securities were reported, and the transaction was reported as a direct holding (ownership code 鈥淒鈥�). The filing was signed by attorney-in-fact Bradley C. Arnett on 07/02/2025.

Kenvue has announced significant leadership changes in its Asia Pacific region. Ellie Bing Xie, current Group President of Asia Pacific, will step down from her role on July 14, 2025. She will remain with the company through August 8, 2025, to facilitate transition.

The company has appointed Anindya (Andy) Dasgupta as the new Group President, Asia Pacific, effective July 14, 2025. Dasgupta brings nearly 30 years of global consumer products industry experience, with expertise in:

• Commercial strategy and sales
• Marketing and business development
• Leadership experience across Europe, US, and Asia Pacific
• Health, nutrition, and food/beverage sectors

The Asia Pacific region is a significant market for Kenvue, contributing approximately $3 billion in Net sales in fiscal year 2024. Ms. Xie's departure qualifies as separation without "cause" under the Executive Severance Pay Plan, making her eligible for severance benefits subject to executing a release of claims and compliance with restrictive covenant obligations.